Signing Judgment Paperwork

In my job, I get a lot of calls and emails with questions about
judgment-related paperwork and contracts. Every judgment buyer, judgment
enforcer, collection agency, or collection lawyer must use paperwork in
their business. This article is my opinion, and not legal advice. I am a
judgment broker, and am not a lawyer. If you ever need any legal advice or
a strategy to use, please contact a lawyer.

While judgments can be, almost no judgments are traded in card games.
Judgments are legal documents, and judgment purchases and recoveries
always require contracts or agreements, and sometimes other paperwork as
well.

I have had the same kinds of discussions and experiences with judgment
owners about a hundred times a week. It seems everyone wants to find a
buyer for their judgment. Everyone starts out wanting to be paid top
dollar. However, every judgment is actually a judgment situation involving
the circumstances of the judgment debtor. Most creditors start out wanting
far more money upfront than what anyone is willing to pay them for their
judgment situation.

Most people who send me judgments, tell me their judgment debtors are
doing well or are rich. However, usually, when I check their debtors out
using public data records, I do not see any obvious available assets.
Judgment buyers are interested only in the judgment debtor's currently
available assets.

When I run most judgment situations past several judgment buyers, usually
they all say they are not interested, or they are only willing to pay a
tiny amount for the judgment. When I break that news and reality to the
creditors, most then start their mission to prove me wrong; and they almost
never succeed, unless their judgment debtors later get more available
assets.

I want to help every creditor sell their judgment, or get it recovered. I
make my living giving people the right judgment referrals, that leads to
them getting money for their judgment. The only way I can get paid is if
my referrals help judgment owners get paid.

However, I refuse to waste anyone's time, especially my own. When I find a
judgment buyer that offers a judgment owner (e.g.) 3% of their judgment's
face value, few judgment owners are going to be happy with that offer (at
least for the first few years of trying to get a cash upfront offer). When
this happens, I then offer to find the creditor a 50/50 future payment
recovery solution. Many say no, and then they start their quest to try to
get more cash upfront for their judgment, and they usually never get any money
for their judgment.

Some judgment owners that are not satisfied with an (e.g., 3% cash upfront
purchase offer, the most anyone will pay for their specific judgment
situation), then accept my recommendation to go with a future payment
contingency recovery expert.
If that recovery expert later gets the creditor (e.g) 50%
of what is recovered over the next year, the creditor will be happy, and I
will get paid a small referral fee from the judgment recovery expert's
potential profit.

Every judgment owner that finds, or is referred to a judgment buyer or a
future-pay contingency recovery expert; must sign their paperwork.
Sometimes judgments are assigned, sometimes they are recovered with an
attorney's retainer agreement, and sometimes an enforcer or a collection
agency recovers the judgments, after the creditor signs their contracts.

Many judgment recovery experts grow tired of creditors who will not sign
their paperwork. When creditors see future-payment judgment recovery
paperwork for the first time, often they refuse to sign it. When this
happens, most creditors go elsewhere, and over the next year or two, they
get judgment-quote related paperwork from (e.g.) ten other companies, only
to find all ten of the other company's paperwork is even worse (more
complex) than that first company.

Judgment (recovery and purchase) paperwork is fairly standard, and is
usually based on what works best in their state. Usually, purchase
contracts are much simpler than future payment recovery contracts. All
judgment sales require a notarized assignment of judgment.

I know thousands of people and companies that recover or purchase
judgments. Every one of them requires paperwork. Some have simple
paperwork, and others have more complex paperwork. Often there are
trade-offs, sometimes the right solutions have the most complex paperwork.